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Marijuana On The Ballot: State-By-State
Posted by CN Staff on October 17, 2016 at 15:41:17 PT
By Julie Weed
Source: Forbes
USA -- Voters could legalize recreational marijuana in five states this November and medical marijuana in three more. This record number of state ballot measures promise to be a great boon for the cannabusiness industry. With national prohibitions against interstate cannabis commerce, as well as current federal banking and drug laws, large companies have been kept out of the industry, so the market is still primarily comprised of small businesses.California, Arizona, Maine, Massachusetts and Nevada will consider legalizing the recreational use of cannabis while Florida, Arkansas and North Dakota will decide on marijuana for medical purposes.
What’s going on state by state?California, Prop 64California is the biggest potential market in the country and the passage of Prop 64 “will create an explosion in the value of compliant medical marijuana dispensary and cultivation licenses in good standing,“ said Steve Gormley, CEO of Seventh Point LLC a private equity fund acquiring those kinds of assets throughout Los Angeles, California. “That’s the precedent we’ve seen in Colorado, Oregon, Washington State, Alaska and DC.,” he said, “ I have no reason to believe California will be any different.”Proposition 64 would legalize marijuana for “adult use,” (the new term for recreational/non-medical use.) A set of rules would govern marketing and other business functions, and allow local governments to levy their own additional taxes or ban related activities in their area.Nevada, Question 2Entrepreneurs in Nevada see marijuana legalization as a way to further enhance the state’s role as a preferred vacation spot for adults to come enjoy activities they might not participate in at home. “The black market has thrived in Nevada for decades, and this is the surest way we have ever seen to break its back,” said Leslie Bocskor, President of Electrum Partners, a Nevada-based advisory services firm specializing in medical and recreational cannabis and ancillary businesses. “The passage of Question 2 will also provide tax revenues to improve the educational system in Nevada, one of the lowest ranked in the country,” she said.Nevada will vote to legalize and regulate recreational marijuana, and if it passes, use the tax revenues for K-12 education. Medical marijuana has been legal in the state since 2000.Maine, Question 1The campaign language “Regulate Marijuana Like Alcohol” has helped polling in Maine to get to 54% of those in favor of legalization. Entrepreneurs expect pot taxes to help the state and the industry to provide jobs ranging from agriculture and retail to software engineering and financial services, according to Mike Bologna, CEO of Green Lion Partners, a Denver-based business strategy firm focused on early stage development and entrepreneurshipMaine is voting to legalize recreational marijuana use. If the measure passes, adults in Maine could legally possess more pot than residents of California and Nevada (2.5 oz vs 1 oz) Municipalities can limit or ban retail pot shops. ArizonaEntrepreneurs like Megan Stone who designs interiors for medical marijuana dispensaries will be able to expand their businesses if recreational use is legalized in Arizona. Examining retail data in other states, “you can see the entrepreneurial dreamland take shape,” said Stone.Cannabusiness people like Ms. Stone who operate in states where recreational use is being added to medical use, have a head start on serving the new market because they are used to working under marketing, packaging and other marijuana-specific regulations.Proposition 205 would allow adult recreational use of marijuana in non-public spaces. People could carry up to an ounce and grow six plants. There will be a 15% tax on retail marijuana sales.Massachusetts, Question 4Massachusetts has 1.4 million more residents than Colorado, so canna-business people expect sales totals to exceed those of Colorado. “These sales will also have a massive impact on the state as 3.75% of the total sales, in addition to the standard sales tax, will be paid on every dollar spent at the register,” said Rob Hunt, President of Teewinot Life Sciences, a company focused on the biosynthetic production of pure pharmaceutical-grade cannabinoids.Medical marijuana has been legal since 2012 in Massachusetts and with this measure the state could also legalize and regulate recreational marijuana. Residents would be able to carry one ounce of pot, and would be allowed to possess larger amounts (10 ounces) if it is locked up in an enclosed place in their residence. Municipalities would be able to impose restrictions or bans on commercial activities.Medical Marijuana Opportunities in Florida, Arkansas and North Dakota:States voting on allowing medical sales, especially Florida with its population of about 20 million people, offer a vast array of new jobs, “at least half of which are in ancillary areas like packaging, engineering, lighting design, branding and professional services like legal and accounting,” according to Alex Halperin, who writes a weekly aggregated marijuana newsletter called Weed Week. While the regulations in each state might be different, what they have in common is opportunity he said, for entrepreneurs interested in agriculture, manufacturing, retail, security, marketing and transportation.FloridaFlorida is voting to make medical marijuana legal, allowing doctors to decide when it should be prescribed. This type of measure was narrowly defeated previously.ArkansasTwo competing marijuana ballots aim to allow medical marijuana for a few specified conditions.North DakotaWhile they fell short of signatures required to put recreational legalization on the ballot, North Dakota will vote to allow medical marijuana to be used for a dozen medical conditions.Julie Weed wrote the best-selling All I Really Need to Know in Business I Learned at Microsoft. Follow her on Twitter julie_weed and at www.julieweed.netOpinions expressed by Forbes Contributors are their own.Source: Forbes Magazine (US)Author: Julie WeedPublished: October 17, 2016Copyright: 2016 Forbes Inc.Contact: readers forbes.comWebsite: http://www.forbes.com/URL: http://drugsense.org/url/LvNrr6CVCannabisNews -- Cannabis Archiveshttp://cannabisnews.com/news/list/cannabis.shtml
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Comment #10 posted by FoM on October 19, 2016 at 08:40:42 PT
Alcohol Industry is Bankrolling Ads To Scare You
https://thinkprogress.org/a-deeply-misleading-ad-tries-to-derail-marijuana-legalization-in-massachusetts-b0e1b0189d7a#.s41ip6hhr
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Comment #9 posted by FoM on October 18, 2016 at 18:02:14 PT
Hope
It is big money interests and they fear what could happen to them if marijuana was legalized. The Pharmaceutical Companies, The Alcohol Industry and Republicans. I say that about the RP because of years of observing their ideology. People that enjoy Cannabis don't get as angry as those who don't. The Republican Party is a fear based Party. If you are more relaxed it's hard to get stirred into a frenzy. I have read the trending news on FB for a long time and the hatred and frenzy many are in with Trump is showing us a lot about human nature. Pot helps people not be fired up and hateful so how will the Republican Party exist much longer without anger so they fight against it.
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Comment #8 posted by Hope on October 18, 2016 at 14:26:27 PT
What they are waiting for?
More death.More wounding.More money for prison.More money dedicated to narcing.More corruption.More money from fines.More money for prohibitionists. I guess that's the problem. I guess that's the hold up.
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Comment #7 posted by Hope on October 18, 2016 at 12:33:14 PT
I agree.
Just do it!
[ Post Comment ]
Comment #6 posted by FoM on October 18, 2016 at 12:18:36 PT
Not About Hillary
It is the platform I am interested in.
[ Post Comment ]
Comment #5 posted by FoM on October 18, 2016 at 12:17:46 PT
Hope
I am not angry since the Democrats put a pathway to legalization of marijuana in their platform. However they do it just do it!
[ Post Comment ]
Comment #4 posted by Hope on October 18, 2016 at 11:18:59 PT
I don't know...
I'm so angry with the system as it is, I don't want to even contemplate any thing about it. Besides, Senator Sanders can't be the director of that slime pit as it is. The director, as I understand it is REQUIRED to lie to the citizens of this country and the world. That's a despicable job for a despicable person. A person who can willfully lie and has a demented, warped conscience. And the Feds take money from our incomes to pay the sworn liars.Aaargh.
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Comment #3 posted by FoM on October 18, 2016 at 10:29:31 PT
Hope
We need to push for Bernie Sanders to be her Drug Czar! He'll figure out how to do it but they must change the way a Drug Czar looks at this issue and to be able to do something about it or a committee to figure it out on both sides of the aisle that want to see National Marijuana Reform. Like the Shaeffer report but honor it!
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Comment #2 posted by Hope on October 18, 2016 at 10:12:17 PT
Comment 1
Very interesting.That "YOU" stuff is interesting. I guess she then, when actually questioned, says, "I".Briefing? Advising? Hmm. Interesting.It all sounds somewhat like she's been saying.
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Comment #1 posted by FoM on October 18, 2016 at 05:25:09 PT
Wikileaks: Clinton's Plan on Marijuana
http://hightimes.com/news/wikileaks-hack-reveals-clinton-campaigns-plan-on-marijuana/
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